Starting a business abroad is a challenge that requires not only an idea, but also a clear understanding of the system. This is exactly what we discuss in a conversation with Oksana Nikitenko, who helps Ukrainians adapt to the entrepreneurial environment in Norway and confidently take their first steps in business.
The Path to a Profession in a New Country
Oksana arrived in Norway in March 2022. After completing an integration program and learning the language, she returned to her profession and now works as an accountant in a private company, managing accounting for several businesses at once.
At the same time, she is developing her own consulting project, helping Ukrainians understand how the Norwegian business system works in practice.
“I saw that many people want to start a business but don’t know where to begin. That’s why I started sharing my experience and explaining the basics,” Oksana says.
The First Step Is Not Registration, but Understanding
According to the expert, the main mistake is rushing to open a business without a clear plan.
“The problem is not the lack of an idea, but the lack of understanding of the process. People often act intuitively, relying on others’ experiences, and make mistakes at the start,” she explains.
The most important decision at the beginning is choosing the business structure:
- ENK (enkeltpersonforetak) — similar to a sole proprietorship, a simple structure with personal liability
- AS (aksjeselskap) — similar to a limited liability company, a more complex structure but with separation of personal and business assets
ENK is suitable for starting out, while AS offers more opportunities for scaling.
Registration and Basic Requirements
After choosing the business structure, the company is registered through Brønnøysundregistrene.
For ENK, the procedure is simple and quick. For AS, it is more complex: it requires share capital (from NOK 30,000), a bank account, and incorporation documents.
Taxes: What You Need to Know
The tax system in Norway is transparent but requires discipline:
- corporate income tax — 22%
- social contributions — 10.9%
- mandatory VAT (MVA) registration after reaching NOK 50,000 in turnover
- standard VAT rate — 25%
“I always recommend planning taxes in advance and making advance payments. This helps avoid financial stress,” Oksana emphasizes.
Reporting and Accounting
For small businesses, reporting is relatively simple but regular:
- tax return (skattemelding)
- VAT reporting every two months
For AS companies, additional requirements include financial statements, shareholder reports, and dividend tax.
Can You Do Your Own Accounting?
At the start — yes. In Norway, there are convenient digital systems that allow you to manage accounting independently. However, a basic understanding of finance remains essential.
“The key is not to act blindly and not to mix personal and business finances,” the expert notes.
Practical Advice
Oksana Nikitenko recommends:
- first understand the system, and only then start a business
- choose the business structure according to your goals and risks
- plan taxes in advance
- keep records from day one
- consult professionals if in doubt
The experience of Ukrainian women abroad proves that even in a new country, it is possible not only to adapt but also to build your own business. The key is to act consciously, systematically, and with a clear understanding of the rules of the game.
And then business becomes not a challenge, but an opportunity.
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Photo: from the archive of Oksana Nikitenko